This property is no longer on the market
Retail property (high street)
Property description & features
- Tenure: Leasehold
- A Freehold Corner Building Arranged as a Ground Floor Commercial Unit Producing £12,500 Per Annum and Three Flats Above (All Sold Off Producing a Combined Ground Rent of £750 Per...
*For Sale By Online PublicAuction 25th October 2023 08:45 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A Freehold Corner Building Arranged as a Ground Floor Commercial Unit Producing £12,500 Per Annum and Three Flats Above (All Sold Off Producing a Combined Ground Rent of £750 Per Annum). Therefore Producing a Combined Income of £13,250 Per Annum
Tenure
Freehold
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of John Burrows Play Ground are within easy reach. Transport links are provided by Leigh-on-Sea rail station.
Description
The property comprises a corner building arranged as a ground floor retail unit and three flats.
Accommodation
Ground Floor
Retail Unit
First Floor
Three Flats (All Sold Off)
Accommodation
Tenancy
The property is subject to a lease for a term of 15 years commencing 8th June 2023 at a rent of £12,500 per annum. Rent reviews every 5 years. All 3 flats are subject to 125 year leases from 29th September 2016 at a ground rent of £250 per annum each. Therefore total rent received is £13,250 per annum.
Note
The vendors have advised us that one of the leaseholders are currently improving the property by carrying out external redecoration at their own cost.
Note
EPC Rating
C
Open during normal business hours
Addendum
The property is being sold with the benefit of the freehold, not leasehold as previously stated.
Places of interest
See more properties like this:
*DISCLAIMER
Property reference 224765. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Auction House London - Hampstead.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on January 31, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.